ALL ABOUT TAXES

🚨GST Portal Update Now, it is mandatory to enter the E-mail Address along with the TRN and Captcha Code to access the application. Earlier: ✅ Enter TRN + Captcha → Login Now: ✅ Enter TRN + E-mail Address + Captcha → Login This change has been implemented to enhance the security and verification process on the GST Portal.

Common GST return mistakes that can trigger scrutiny notices (ASMT‐10), audits, or even demand proceedings under GST: Save/Share this those who are involved in GST Return filing. 1. GSTR‐1 vs GSTR‐3B mismatch (higher liability in GSTR‐1 than tax paid in 3B): Indicates outward supplies disclosed but tax not fully paid; can lead to scrutiny under Section 61 and demand under Sections 73/74. 2. GSTR‐3B vs GSTR‐2A/2B ITC mismatch (excess ITC in 3B) Suggests ineligible / excess Input Tax Credit (ITC) availed, or ITC on invoices not reflected in 2A/2B; can be treated as ITC wrongly availed/used, attracting Section 122(1)(vii) penalty. 3. ITC availed after the statutory time‐limit (late ITC): Section 16(4) time‐limit breach (ITC taken after due date of September return / annual return) – flagged as a specific scrutiny parameter. 4. Very high ITC utilisation vs cash payment (e.g. ITC utilisation > 5× cash): Disproportionately low cash payment compared to turnover suggests possible bogus ITC or under‐reported outward supplies; flagged for scrutiny. 5. High turnover with nil/negligible cash tax payment (e.g. turnover > ₹1 crore, cash nil): Risk that tax liability is not correctly discharged; department guidelines specifically flag such cases for scrutiny. 6. GSTR‐3B vs e‐way bill mismatch: E‐way bill data showing higher movement of goods than turnover reported in returns indicates possible suppression of outward supplies. 7. Turnover in GSTR‐3B lower than TDS/TCS turnover (GSTR‐7/8): If turnover reported in 3B is less than turnover as per TDS/TCS returns, it suggests under‐reporting of supplies. Note: This might be the case of timing mismatch 8. Non‐reporting of inter‐State B2C supplies in Table 3.2 of GSTR‐3B / Table 7B of GSTR‐1: Circular 89/08/2019‐GST clarifies that non‐reporting of such details affects IGST apportionment and is a contravention attracting penalty under Section 125. 9. Non‐filing / delayed filing of periodic returns (GSTR‐3B, GSTR‐1, etc.): Section 59 read with Section 39 requires self‐assessment and timely filing; persistent default can lead to scrutiny, best‐judgment assessment, and penalty. 10. ITC on capital goods not proportionately reversed against exempt / non‐business turnover (Rule 43 cases): Circular‐based scrutiny parameter: “Capital goods ITC vs exempted turnover” – non‐reversal indicates excess ITC claim. 11. Non‐compliance with Rule 86B (cash payment minimum 1% where applicable): Cases where Rule 86B applies but taxpayer continues to pay almost entirely through ITC are specifically flagged for scrutiny.

𝐈𝐓𝐑 𝐅𝐢𝐥𝐢𝐧𝐠 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞: 𝐋𝐚𝐭𝐞 𝐅𝐞𝐞 & 𝐏𝐞𝐧𝐚𝐥𝐭𝐲 𝐆𝐮𝐢𝐝𝐞 . . . #itr #IncomeTax #penalty

𝐍𝐞𝐰 𝐓𝐚𝐱 𝐑𝐞𝐠𝐢𝐦𝐞 - 𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧𝐬 & 𝐀𝐥𝐥𝐨𝐰𝐚𝐧𝐜𝐞𝐬 #itr #IncomeTax #duedate

🚨 LIVE ITR 2 Filing AY 2026 to 27 | Step by Step Guide 🔥 #CAManojGupta #AllAboutTaxes https://youtu.be/fwbDscqVN_Q

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🚨 Big Update in AIS! The Income Tax Department has introduced a Foreign Assets Information tab in the AIS Compliance Portal. Time to review your global asset details! 🌐💼 #incometax

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🚨 TDS Kat Gaya? Kya ITR File Karna Zaroori hai ? ⚠️😱 HAR TAXPAYER KA SAWAAL #001 https://youtube.com/shorts/icltKYw8xgk?feature=share

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